Reported about 4 hours ago
Xiaohongshu, known as China's equivalent to Instagram, is in discussions to sell shares with a valuation of at least $20 billion, attracting interest from major investors like Tencent as potential TikTok bans loom. The company, which has grown rapidly with around 300 million monthly users, aims for an IPO this year following increasing American user interest. Despite talks, the sale's completion is uncertain due to existing shareholders' rights and shifting market conditions.
Source: YAHOO